09/11/14: Is the tide turning for emerging markets? David Semple analyzes the emerging markets economies and believes “the asset class is on track to offer higher economic growth for the remainder of 2014 . . . and as we move into 2015.”View article >>

04/15/14: According to The Wall Street Journal, turmoil in China and Russia have curtailed gains for income-seeking funds. “Look at it from the perspective of a conservative U.S. investor who’s looking for yield,” says David Semple. “You may get your yield in due course, but you’ll get your volatility with that.”View article >>

04/10/14: Despite the hit emerging markets companies have recently taken, some money managers believe there are still worthwhile opportunities. According to David Semple, “There are state-owned businesses that deserve to trade at discounts, but you can find real growth stories that sell at reasonable prices.”View article >>

12/05/13: CNN Money polls money managers for top stock ideas for 2014. David Semple weighs in and discusses his views on oil demand in Southeast Asia. “Oil demand from this region is clearly very strong, and this company seems to be at the center of it.” View article >>

The table presents past performance which is no guarantee
of future results and which may be lower or higher than current
performance. Returns reflect temporary contractual fee waivers and/or
expense reimbursements. Had the Fund incurred all expenses and
fees1, investment returns would have been reduced. Expenses:
Class A: Gross 1.63% and Net 1.60%. Expenses are capped contractually through
05/01/15 at 1.60% for Class A. Investment returns and Fund share values
will fluctuate so that investors' shares, when redeemed, may be worth
more or less than their original cost. Fund returns assume that dividends
and capital gains distributions have been reinvested in the Fund at
NAV.

^The Fund's inception date was December 20, 1993, but
prior to December 18, 2002, it operated with a substantially different
investment strategy. Specifically, it invested primarily in the common
stocks and other equity securities of global large-cap growth companies
and could invest no more than 10% of its assets in emerging markets
securities.

Unless otherwise stated, portfolio facts and statistics are shown for Class A shares; other classes may have different characteristics.

†NAV: Unless you are eligible for a waiver, the public offering price you pay when you buy Class A shares of the Fund is the Net Asset Value (NAV) of the shares plus an initial sales charge. The initial sales charge varies depending upon the size of your purchase. No sales charge is imposed where Class A or Class C shares are issued to you pursuant to the automatic investment of income dividends or capital gains distributions. It is the responsibility of the financial intermediary to ensure that the investor obtains the proper “breakpoint” discount. Class C, Class I and Class Y do not have an initial sales charge; however, Class C does charge a contingent deferred redemption charge. See the prospectus and summary prospectus for more information.

1Van Eck Associates Corporation (the “Adviser”) has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent
the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, trading expenses, dividends and
interest payments on securities sold short, taxes and extraordinary expenses) from exceeding 1.60% for Class A, 2.50% for Class C,
1.00% for Class I, and 1.10% for Class Y of the Fund’s average daily net assets per year until May 1, 2015. During such time, the
expense limitation is expected to continue until the Board of Trustees acts to discontinue all or a portion of such expense limitation.

2The Morgan Stanley Capital International (MSCI) Emerging Markets Index, calculated with dividends reinvested, captures 60% of the publicly traded equities in each industry for approximately 21 emerging markets. The Morgan Stanley Capital International (MSCI) Emerging Markets Small Cap Index, calculated with dividends reinvested, targets companies that are not in the standard emerging markets index.

The views and opinions expressed are those of Van Eck Global. Fund manager commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Any discussion of specific securities mentioned in the commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to the risks associated with its investments in emerging markets securities, which tend to be more volatile and less liquid than securities traded in developed countries. The Fund’s investments in foreign securities involve risks related to adverse political and economic developments unique to a country or a region, currency fluctuations or controls, and the possibility of arbitrary action by foreign governments, including the takeover of property without adequate compensation or imposition of prohibitive taxation. The Fund is subject to risks associated with investments in debt securities, derivatives, commodity-linked instruments, illiquid securities, asset-backed securities, CMOs and small or mid-cap companies. The Fund is also subject to inflation risk, short-sales risk, market risk, non-diversification risk and leverage risk. Please see the prospectus and summary prospectus for information on these and other risk considerations.

Investing involves risk, including possible loss of principal. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information. Please read them carefully before investing.